Guideline Value for Abi Krishna Nagar

Abi Krishna Nagar guideline value

The current guideline value of Abi Krishna Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Manapakkam village and falls under the Chengleput Joint I SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Abi Krishna Nagar has changed

The guideline value for Abi Krishna Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 250 per sq.ft. This increased to Rs 167 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 500 per sq.ft, reflecting an increase of 199%. The 2023 revision maintained the same rate of Rs 500 per sq.ft, and the upcoming 2024 revision will also keep it at Rs 500 per sq.ft, showing no percentage change from the previous year. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Manapakkam

In Manapakkam, there are 11 streets under the Chengleput Joint I SRO that carry a guideline value for 2024, ranging from Rs 150 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Abi Krishna Nagar's 2024 figure above that median.

• Anna Nagar: Rs 200 per sq.ft (2024)
• Karma Veerar Kamaraj Nagar Phase 8: Rs 200 per sq.ft (2024)
• Kumaresan Nagar: Rs 200 per sq.ft (2024)
• New Krishna Nagar: Rs 500 per sq.ft (2024)
• Om Saravanabava Nagar Phase-I: Rs 500 per sq.ft (2024)
• Om Saravanabava Nagar Phase-II: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Abi Krishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abi Krishna Nagar?

The Sub Registrar Office covering Abi Krishna Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Manapakkam

The guideline value plays a crucial role when buying or selling property in Manapakkam. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is the minimum value considered for these calculations, ensuring that the transaction is registered at a fair value.

When a property is sold, the guideline value helps in assessing the legal documentation required for the transfer of ownership. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Abi Krishna Nagar?

The current guideline value of Abi Krishna Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023 and 2024. There were no figures for the years 2002, 2003, and 2007.

What is the land classification for Abi Krishna Nagar?

The land classification for Abi Krishna Nagar is Residential Special Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property in Abi Krishna Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 5,00,000, the total fees would amount to Rs 45,000.

Where can I find the Sub Registrar Office for Abi Krishna Nagar?

The Chengleput Joint I Sub Registrar Office covers Abi Krishna Nagar and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO online.